Signifies that the original insured’s interest in subject matter of insurance has been taken over by a new party who is the new insured. The latter normally completes a new proposal form prior to being accepted. See NOVATION; PERSONAL CONTRACTS.
The Rantings of the barely human.
Signifies that the original insured’s interest in subject matter of insurance has been taken over by a new party who is the new insured. The latter normally completes a new proposal form prior to being accepted. See NOVATION; PERSONAL CONTRACTS.